The month of August will remain in the minds of many crypto traders as period where a lot of exit from digital coins to fiat was experienced. However, Nano (NANO) remained as the only coin not hit by the exit phenomenon. With a lot of uncertainty in the market, Nano performance stood above board.
The crypto to fiat exit saw the Bitcoin market dominance drop to a low of 48.4% on August 15 and this signaled reduced investor confidence on the direction the price was taking. As much as the trend affected the altcoins, Nano seized the opportunity to make some gains.
Nano (NANO) Price Better Days
After the release of the Nano compatible wallet two months ago, the coin has attracted more interest. Mobile friendly wallets are becoming the trend in the market and its introduction into the Nano ecosystem has become a game changer. Both iOS and Android are expected to spur the coin usage and giving the user control of their funds on the go.
The project team has also collaborated with the community to make it possible for users to have access to a downloadable version of the wallet for Linux, Windows and Mac. All these developments came after the Ledger Nano S was launched to support the NANO coin. All these brought the platform into the lime light and the coin has been able to wither the August storm and setting itself up for better days.
Nano (NANO) Gaining Acceptance in Virgin Markets
The month of August saw Nano (NANO) start making inroads into the Venezuelan market. Through the Nano Center, the choice for Nano as the perfect fit for the developing country is because the platform offers fee-less transactions which connect well with the citizenry. With the economic crisis almost ripping the country apart, Nano just got their back at the right moment.
The Venezuelan currency value shedding streak has resorted to using a blockchain based solution and the only coin that could fit the demand was NANO since their blockchain backed coin, Petro, has been regarded as scam by the citizens. This has been a major boost for NANO and its user case to counter hyperinflation has turned round its fortunes.
Increased Investor Confidence on Nano
The entry of Nano into the Bitcoin Superstore has help the native coin hold steadily in market headed south. Bitcoin Superstores boost is a major win for the coin in its visibility strategy. The market place has a global presence and onboarding of Nano will expose it to the larger market with mass adoption as the goal. With its use cases on the rise, the value and price growth appear to tag along with the market.
The listing means NANO holders have access to Alibaba and Amazon marketplaces where they can purchase select products. This will add shopper and investor confidence as the transaction speeds of crypto means fast shipping and less chargebacks. Nano value proposition surpasses that of credit cards and will see the coin popularities as the Superstore services extend to the global level and with the recent network stress test success; the sky for NANO is the limit.
Nano (NANO) is still trading in the green and the last 24-hour trading session has seen the asset gain 9.34% to trade at $3.17 to the dollar. Nano has its coat cut out clearly and it could be the next global currency if it gets mainstream and if the Venezuelan case is anything to write home about.